Company name:
Spirit Airlines Inc
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IPO SHARE PRICE:$12.00
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IPO DATE:May 26, 2011
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TICKER:SAVE
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MAIN STOCK EXCHANGE:NASDAQ
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CURRENT HQ LOCATION:2800 Executive Way Miramar Florida 33025
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FISCAL YEAR END:December 31
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INCORPORATION JURISDICTION:DE
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ORGANIZED AS THE FOLLOWING LEGAL TYPE:Corporation
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Investor Relations Webpage:Coming soon!
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TAX RATE:USA federal corporate nominal income tax rate is 21%
Short Description
Spirit Airlines Inc
We are working hard and as soon as possible to provide company description soon. Feel free to reach out to request it sooner: improve@real-clear-investing.com
Statement of Cash Flow
(USD in thousand)
Selected Year:
31-Dec
2020
2020
OPERATING ACTIVITIES
Cash received and spent on operating activites of business — buying materials, paying salaries, receiving payments from clients, etc
39.4% -
Depreciation and amortization
12.2% -
Air traffic liability
4.3% -
Accounts receivable
3.8% -
Other liabilities
3.4% -
Aircraft maintenance deposits
1.6% -
Stock-based compensation
1.5% -
Amortization of debt issuance costs
1.4% -
Accretion of convertible debt and 8% senior secured notes
0.3% -
(Gain) loss on sale of assets
0.0% -
Losses reclassified from other comprehensive income
0.0% -
Other
SOURCEs
31.9%
4.3%
39.4%
3.4%
3.8%
12.2%
100 %
0%
USES
6.5%
10.6%
17.9%
60.6%
60.6% -
Net income (loss)
17.9% -
Income tax receivable
10.6% -
Deferred heavy maintenance
6.5% -
Deferred income taxes
2.4% -
Accounts payable
1.8% -
Deposits and other assets
0.0% -
Change in allowance for doubtful accounts
0.0% -
Prepaid income taxes
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (loss) | $155,749 | $335,255 | ($428,700) | ($428,700) | - | |||||||||
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Depreciation and amortization
|
176,727 | 225,264 | 278,588 | 278,588 | - | |||||||||
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Amortization of deferred gains and losses
|
- | - | - | - | - | |||||||||
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Amortization of deferred gains and losses and debt issuance costs
Amortization of deferred gains and losses and debt issuance costs
|
8,819 | 8,654 | - | - | - | |||||||||
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Amortization of debt issuance costs
|
- | 8,654 | 10,752 | 10,752 | - | |||||||||
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Accretion of convertible debt and 8% senior secured notes
Accretion of convertible debt and 8% senior secured notes
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- | - | 10,138 | 10,138 | - | |||||||||
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Lease termination expense
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- | - | - | - | - | |||||||||
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Stock-based compensation
|
11,021 | 8,154 | 11,575 | 11,575 | - | |||||||||
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(Recovery of) provision for doubtful accounts
|
- | - | - | - | - | |||||||||
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Change in allowance for doubtful accounts
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(11) | - | (249) | (249) | - | |||||||||
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Capitalized interest expense
|
- | - | - | - | - | |||||||||
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Deferred income taxes
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46,303 | 115,689 | (46,086) | (46,086) | - | |||||||||
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Losses reclassified from other comprehensive income
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315 | 315 | 252 | 252 | - | |||||||||
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(Gain) loss on sale of assets
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9,580 | 17,350 | 2,264 | 2,264 | - | |||||||||
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(Gain) loss on landing slot sale
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- | - | - | - | - | |||||||||
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(Gain) loss on repayment of debt
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- | - | - | - | - | |||||||||
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Unrealized (gain) loss on derivative
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- | - | - | - | - | |||||||||
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Unrealized (gain) loss on fuel derivative
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- | - | - | - | - | |||||||||
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Change in fair value of open fuel hedge contracts
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- | - | - | - | - | |||||||||
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Accrued interest expense and dividends
|
- | - | - | - | - | |||||||||
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Restructuring credit charges
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- | - | - | - | - | |||||||||
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Special charges non-operating
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90,357 | - | - | - | - | |||||||||
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Accounts receivable
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1,674 | (26,147) | 30,486 | 30,486 | - | |||||||||
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Income tax receivable
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69,844 | (21,013) | (126,447) | (126,447) | - | |||||||||
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Aircraft maintenance deposits
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14,019 | 22,453 | 23,732 | 23,732 | - | |||||||||
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Prepaid maintenance reserves
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- | - | - | - | - | |||||||||
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Prepaid income taxes
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- | 1,431 | (223) | (223) | - | |||||||||
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Long-term deposits and other assets
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(4,803) | 14,999 | - | - | - | |||||||||
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Deferred heavy maintenance
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(190,381) | (175,957) | (75,230) | (75,230) | - | |||||||||
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Restricted cash and cash equivalents
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- | - | - | - | - | |||||||||
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Deposits and other assets
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- | 14,999 | (12,944) | (12,944) | - | |||||||||
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Accounts payable
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15,317 | 569 | (17,052) | (17,052) | - | |||||||||
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Air traffic liability
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28,270 | 23,429 | 86,558 | 86,558 | - | |||||||||
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Other
|
(375) | (822) | 118 | 118 | - | |||||||||
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Other liabilities
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74,038 | (140,402) | 27,194 | 27,194 | - | |||||||||
| Net cash provided by (used in) operating activities | $506,463 | $409,221 | ($225,274) | ($225,274) | - |
Selected Year:
31-Dec
2020
2020
INVESTING ACTIVITIES
Cash spent on acquiring plant, equipment and other businesses, cash recei0 from sale of plant, equipment and subsidiaries as well cash parked temporarily in different securities - government bonds typically
42.3% -
Sales and maturities of available-for-sale securities
SOURCEs
57.7%
42.3%
100 %
0%
USES
0.0%
51.5%
42.7%
4.4%
51.5% -
Pre-delivery deposits for flight equipment
42.7% -
(Purchases) sale of available-for-sale securities
4.4% -
Capitalized interest expense
1.4% -
Assets under construction for others
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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(Purchases) sales of marketable securities
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- | - | - | - | - | |||||||||
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Maturities of marketable securities
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- | - | - | - | - | |||||||||
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(Purchases) sale of available-for-sale securities
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(124,430) | (122,410) | (118,893) | (118,893) | - | |||||||||
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Maturities of available-for-sale securities
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- | - | - | - | - | |||||||||
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Sales and maturities of available-for-sale securities
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122,947 | 120,830 | 117,665 | 117,665 | - | |||||||||
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(Purchase) sale of property and equipment
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(606,971) | - | - | - | - | |||||||||
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Sale of landing slots
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- | - | - | - | - | |||||||||
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Pre-delivery deposits for flight equipment
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(177,424) | (102,102) | (143,220) | (143,220) | - | |||||||||
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Assets under construction for others
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(501) | (7,936) | (3,944) | (3,944) | - | |||||||||
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Capitalized interest expense
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(8,729) | (10,774) | (12,233) | (12,233) | - | |||||||||
| Net cash provided by (used in) investing activities | ($783,708) | ($314,829) | ($554,000) | ($554,000) | - |
Selected Year:
31-Dec
2020
2020
FINANCING ACTIVITIES
Items in this group are concerned with borrowing funds, repaying debt, issuing equity, buying back shares, etc.
81.3% -
Long-term borrowing
18.5% -
Issuance of common stock and warrants
0.2% -
Reimbursement for assets under construction for others
0.0% -
Proceeds from issuance of common stock upon exercise of stock options
SOURCEs
81.3%
18.5%
100 %
0%
USES
83.8%
12.8%
12.8% -
Repayment of debt
2.0% -
Debt and equity issuance costs
1.3% -
Repayment of finance leases
0.1% -
Repurchases of common stock
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Issuance of common stock
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- | - | - | - | - | |||||||||
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Issuance of common stock and warrants
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- | - | 366,783 | 366,783 | - | |||||||||
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Proceeds from issuance of common stock upon exercise of stock options
Proceeds from issuance of common stock upon exercise of stock options
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51 | 1 | 39 | 39 | - | |||||||||
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Debt and equity issuance costs
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- | (2,909) | (40,551) | (40,551) | - | |||||||||
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Repayment of debt
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(137,275) | (246,783) | (254,304) | (254,304) | - | |||||||||
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Long-term borrowing
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832,099 | 225,891 | 1,612,391 | 1,612,391 | - | |||||||||
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Borrowing
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- | - | - | - | - | |||||||||
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Repayment of finance leases
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(205,720) | (96,547) | (25,401) | (25,401) | - | |||||||||
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Repayment of debt and capital leases
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- | - | - | - | - | |||||||||
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Repayments of capital leases
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- | - | - | - | - | |||||||||
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Proceeds from sale and leaseback transactions
|
- | - | - | - | - | |||||||||
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Debt issuance costs
|
(7,365) | (2,909) | - | - | - | |||||||||
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Excess tax benefit from stock-based compensation
|
- | - | - | - | - | |||||||||
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Payments to pre-IPO shareholders pursuant to tax receivable agreement
Payments to pre-IPO shareholders pursuant to tax receivable agreement
|
- | - | - | - | - | |||||||||
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Repurchases of common stock
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(1,162) | (5,439) | (1,669) | (1,669) | - | |||||||||
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Reimbursement for assets under construction for others
Reimbursement for assets under construction for others
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501 | 5,618 | 4,153 | 4,153 | - | |||||||||
| Net cash provided by (used in) financing activities | $481,129 | ($120,168) | $1,661,441 | $1,661,441 | - |
Selected Year:
31-Dec
2020
2020
NET CHANGE IN CASH
Grand Total for sum of cash flows coming from operations, investing and financing
$882,167,000